Germany-based Immatics Biotechnologies has entered into a research collaboration and license agreement with Danish biotech, Genmab, to develop next-generation, T-cell engaging bispecific immunotherapies targeting multiple cancer indications.

The companies will conduct joint research, funded by Genmab, to combine Immatics’ XPRESIDENT and Bispecific TCR technology platforms with Genmab’s proprietary antibody technologies to develop multiple bispecific immunotherapies in oncology.

Under the terms of the agreement, Immatics will receive an upfront fee of $54 million and is eligible to receive up to $550 million in development, regulatory and commercial milestone payments for each product and tiered royalties up to a double-digit percentage of net sales.

Read the press release